Let’s tackle taxes first. Scott Bessent, a hedge fund manager about to become Trump 2.0’s treasury secretary, warns of “economic calamity” if Congress doesn’t pass tax cuts for billionaires (see story here). If you believe this, you deserve to pay taxes so he doesn̵[...]
Archive for the ‘Economics’ Category
January 15th, 2025 - 8:02 pm § in Donald Trump, Economics
Trump’s tariffs will make beer cans cost more
If Trump imposes sweeping tariffs on Canada, the beer cans that spring breakers discard on beaches (photo below) will cost more. The U.S. gets about half its aluminum supply from recycling (details here). Two-thirds of the other half is imported, mostly from Canada (see story here). I haven’t [...]
What’s with the financial markets?
A week before Trump begins his second term, U.S. stock and bond markets are rebelling. But against what? I’ll explain below. Stocks initially rose after Trump won the 2024 election, but all three major indexes (the Dow Industrial Average, Standard and Poor’s 500, and NASDAQ) are now belo[...]
December 17th, 2024 - 9:47 pm § in America, Biden, Democrats, Donald Trump, Economics, Foreign Affairs, Politics, Republicans
Kamala Harris won’t be president
Kamala Harris will never be president. I’m not saying she won’t run; but if she does, she won’t be elected. The 2024 election proved it. Sure, she was dealt a tough hand to play, and played it better than anyone had a right to expect. She was a last-minute nominee, saddled with Bid[...]
Why would anyone like Republican economic policies?
The economy looms large in elections, and if people voted for the best economic policies, Republicans wouldn’t win elections. By every measure, the U.S. economy fares better under Democratic administrations. Higher growth, more jobs, lower unemployment, less inflation, and a better stock marke[...]
December 8th, 2024 - 3:23 pm § in Donald Trump, Economics, Europe, Foreign Affairs, Health, Politics, Republicans
Why Trump’s 2024 election victory is different
He plans to tear down all four pillars of the “American Century,” according to a Politico article here. The phrase was coined by Henry Luce, publisher of Time and Life magazines, in 1941 and refers to America’s postwar dominance. The concept, Politico says, has “guided the th[...]
CEO’s murder becomes a cultural moment
When Brian Thompson was shot dead on a New York street this week he became a cultural symbol. Thompson (photo, left), 50, was the youngish-looking, $10 million-a-year CEO of the health insurance division of UnitedHealth Group, the world’s 9th largest corporation by revenue. He had personal bag[...]
Can GOPers cut $2 trillion of federal spending?
Social Security, Medicare, Medicaid, defense spending, debt interest, and veterans and retiree benefits consume 76% of the budget, and the other 24% amounts to only $1.5 trillion. Read story here and watch video here. Large deficits are a result of revenue losses. If you want to fix deficits, you al[...]
Can a mayor throw a president in jail?
Actually, the question is whether a president can throw a mayor in jail; I pulled a bait-and-switch on readers. Tom Homan, Trump’s deportation czar, threatened to jail Denver’s mayor for threatening to use city police to stop migrant deportations. The mayor later retreated from that post[...]